Russian and German state banks to support their countries' exporters

The Russian Vneshekonombank (VEB) and Roseksimbank and Germany's Kreditanstalt fur Wiederaufbau (KfW) state bank have signed an agreement on co-operation for the support of Russian and German exporters.

The agreement provides for joint funding of projects in third countries, information exchange and holding consultations between the sides on project funding details in value terms and exchange of legal and operational practices.

According to this decision, Roseksimbank and the KfW will be co-creditors. Vneshekonombank will carry out financial consulting in the sphere of deals structuring and working out financial schemes of their realisation.

This is the first agreement between state-owned banks of Russia and Germany, called to promote economic co-operation between our countries in the sphere of support for national exportation. Its implementation will enable Russian enterprises to expand their possibilities on third countries' markets, VEB press service reported.